Universal life insurance policies do not typically have an expiration date. Unlike term life insurance, which provides coverage for a specific period of time, universal life insurance is a type of permanent life insurance that is designed to provide coverage for the entire lifetime of the insured individual. This means that as long as the policyholder pays the required premiums, the policy will remain in force and provide coverage until the insured individual passes away.
Universal life insurance policies also have a cash value component, which allows the policyholder to accumulate savings over time. The cash value can be used to pay premiums, increase the death benefit, or be withdrawn by the policyholder. However, it's important to note that if the policyholder does not pay the required premiums or withdraws too much from the cash value, the policy may lapse or the death benefit may be reduced.
It's always a good idea to review the terms and conditions of a universal life insurance policy to fully understand the coverage and any potential limitations or requirements. If you have specific questions about a particular policy, it's best to consult with an insurance professional or the insurance company directly for personalized advice and information.